You worked hard to earn your money and in turn, you want to see as much of it as possible work for you.
Building your wealth requires a careful look at your overall financial picture, particularly your own personal circumstances and the tax implications of your investments. By structuring the right mix of investments for your portfolio you can pay less tax and ensure you are receiving optimal returns.
The first step towards developing an effective investment plan is knowing how much tax you pay on each type of income you may receive. This sounds obvious, but the truth is, many Canadians are not sure what their marginal tax rate is.
This guide is designed to show you how much tax you are paying as well as provide you with some tips on how to reduce the amount of tax that you do pay.
While this publication outlines important tax information and tax saving ideas for individual investors, it is important to consult with a professional tax advisor for guidance before utilizing these strategies. A professional tax advisor will take your personal circumstances into account in determining appropriate recommendations, which will enable you and your ScotiaMcleod Investment Executive to develop your investment strategy.
